Blue Owl Technology Finance (NYSE:OTF) Sets New 52-Week Low – Time to Sell?

Blue Owl Technology Finance Corp. (NYSE:OTF)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $10.91 and last traded at $11.27, with a volume of 383949 shares. The stock had previously closed at $11.15.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OTF shares. Wells Fargo & Company dropped their price objective on shares of Blue Owl Technology Finance from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Truist Financial dropped their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Keefe, Bruyette & Woods dropped their target price on Blue Owl Technology Finance from $16.00 to $13.00 and set a “market perform” rating on the stock in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Blue Owl Technology Finance presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Blue Owl Technology Finance Stock Up 3.8%

The company has a 50 day moving average of $13.15. The stock has a market cap of $5.38 billion and a PE ratio of 6.81.

Blue Owl Technology Finance (NYSE:OTF) last issued its earnings results on Wednesday, February 18th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Blue Owl Technology Finance had a return on equity of 6.91% and a net margin of 62.89%.The firm had revenue of $320.58 million for the quarter, compared to analyst estimates of $326.27 million.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.35 dividend. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 12.1%. Blue Owl Technology Finance’s payout ratio is 82.35%.

Blue Owl Technology Finance declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 18th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Blue Owl Technology Finance news, Director Chris Temple acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $11.49 per share, with a total value of $57,450.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $57,450. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Blue Owl Technology Finance

Institutional investors have recently added to or reduced their stakes in the business. QP Wealth Management LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter worth about $168,000. Wealth Enhancement Advisory Services LLC grew its stake in Blue Owl Technology Finance by 137.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock valued at $1,044,000 after purchasing an additional 42,888 shares in the last quarter. Norden Group LLC acquired a new position in shares of Blue Owl Technology Finance in the 4th quarter valued at approximately $169,000. Pallas Capital Advisors LLC boosted its stake in shares of Blue Owl Technology Finance by 642.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock valued at $1,243,000 after buying an additional 73,966 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. grew its position in shares of Blue Owl Technology Finance by 121.0% during the fourth quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock worth $704,000 after buying an additional 26,510 shares in the last quarter.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.